Petrol prices rise for 13th straight day; almost Rs 78 in Delhi

However, the sources claimed that the windfall tax may well be accompanied by a minor tinkering with excise duty rates to give immediate relief to consumers. It in 2012 raised the windfall tax threshold to $55 per barrel.

India is not the only country to consider levying a windfall tax on oil producers.

The government is looking at both short-term and long-term solutions to the rocketing fuel prices, Oil Minister Dharmendra Pradhan said on Thursday as state-run oil companies increased rates for the 11th straight day. In 2011, the United Kingdom raised the tax rate to be applied to North Sea oil and gas profits when the price was above $75 per barrel.

Iran faces 'strongest' U.S. penalties
Critics rounded on Pompeo's speech, saying his demands could have been made without pulling America from the nuclear deal. He said the new policy sought to strangle Iran's "economic capacity to do harm to the Middle East and to the world".

Sources said the windfall tax is one of the options being considered by the government as a permanent solution to dealing with the problem of spike in oil prices. Just four states - Maharashtra, Gujarat, Madhya Pradesh and Himachal Pradesh - and one union territory had heeded the government's call to lower Value-Added Tax in line with its October excise duty cut of Rs 2 per litre of fuel and diesel. In particular, resources have to be arranged for the National Health Protection Scheme (NHPS) that aims to provide health insurance cover of Rs 5 lakh to every eligible household. Prices of diesel and petrol in India have surged to a record high, stoking acerbic criticism from the opposition of Prime Minister Narendra Modi's administration for causing hardship to people.

Since the time the hiatus ended on 14 May, rates have gone up by Rs2.84 a litre in case of petrol and Rs2.60 in diesel. This discount helped the retailers make good a part of the losses they incurred on selling petrol and diesel below cost.

The government is under pressure to soften the impact of rising crude oil prices, which have risen by two-thirds in the past 11months and touched $80 per barrel, leading to a sharp increase in petrol and diesel rates.

Given the spurt in global crude prices, oil producers have made huge profits in recent times.

During that period of time , he was operating taxis controlled by Cohen, according to people familiar with their relationship. Trump. "Gene Freidman and I are not partners and have never been partners in this business or any other ".

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Aguilera says she's ready for classes to resume next week so that she can join with friends again "to show how strong we are". Adding to the problem is the failure of some gun owners to safely secure their weapons.

Speaking by telephone from base camp, Gyanendra Shrestha, an official with the Nepalese Ministry of Tourism, said Mr. Kuriki's body would be airlifted to Kathmandu , the capital, for an autopsy to ascertain the exact cause of death.

Federal Reserve is raising interest rates, encouraging investors to place their money in the U.S. instead of other economies. Because Turkey is particularly dependent on foreign capital, its markets are among those to have suffered most.

Turnout at the election was 46 percent, it said, way down from the 80 percent at the last presidential vote in 2013. USA government has already said it will not recognize outcome of the Venezuelan presidential election .

Mkhitaryan admits Arsenal uncertainty over new boss Emery
Emery and Rabiot worked together in the French capital and won the domestic treble this season before the Spaniard left the club. Emery already has one thing in common with Wenger after making clear his disdain for the Frenchman's old rival Jose Mourinho.

Chennai Super Kings in seventh IPL final
He also ensured that he held his end up in case one of his batting partners was able to stick through for an alliance. For a brilliant 42-ball 67* that helped Chennai win the match, Faf du Plessis is the batsman of the match .